Shares in Wynn Resorts have begun trading on the Nasdaq stock market. Steve Wynn is offering (US)$450m stock to the public in the hope of raising enough funds to build a (US)$2,5bn casino called Le Reve in Las Vegas.

Le Reve - French for the dream - is to be the most expensive and lavish casino ever built. With its own mountain and lake, 2,700 rooms (some of which will be 7,000 sq ft), a 111,000 sq ft casino and 18 restaurants, Le Reve will be larger and more opulent even than Bellagio, the last casino built by Wynn resorts.

In a retail first, the casino will feature a Ferrari and Maserati dealership.

Le Reve will be built on the vacant area where the Desert Inn resort once stood.

While Wynn has a solid reputation as the developer of the Mirage, Treasure Island and Bellagio, financial analysts remain cautious about investing in further expansion in Vegas. In August 2002, hotel occupancy was down to 89.7% - a drop of 2,100 rooms per night since 2000. It's thought that other resorts have expansion plans too which could exacerbate the occupancy problem, unless numbers are increased by the addition of Le Reve.

Investors will have to wait three years to find out if their investment pays off. Le Reve isn't scheduled to open until 2005.